State of Alaska Department of Revenue Sells 57,726 Shares of Alaska Air Group, Inc. (NYSE:ALK)

State of Alaska Department of Revenue reduced its stake in shares of Alaska Air Group, Inc. (NYSE:ALK - Free Report) by 80.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,420 shares of the transportation company's stock after selling 57,726 shares during the quarter. State of Alaska Department of Revenue's holdings in Alaska Air Group were worth $709,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ALK. Maryland State Retirement & Pension System lifted its position in shares of Alaska Air Group by 0.3% in the fourth quarter. Maryland State Retirement & Pension System now owns 49,905 shares of the transportation company's stock worth $3,231,000 after purchasing an additional 147 shares in the last quarter. Oregon Public Employees Retirement Fund grew its holdings in shares of Alaska Air Group by 0.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 29,816 shares of the transportation company's stock valued at $1,931,000 after acquiring an additional 160 shares in the last quarter. Mutual of America Capital Management LLC raised its holdings in Alaska Air Group by 1.3% during the fourth quarter. Mutual of America Capital Management LLC now owns 19,229 shares of the transportation company's stock worth $1,245,000 after acquiring an additional 254 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in Alaska Air Group by 6.6% during the fourth quarter. Sequoia Financial Advisors LLC now owns 5,381 shares of the transportation company's stock valued at $348,000 after purchasing an additional 332 shares during the last quarter. Finally, Treasurer of the State of North Carolina increased its position in shares of Alaska Air Group by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 55,170 shares of the transportation company's stock worth $3,572,000 after purchasing an additional 340 shares during the last quarter. Institutional investors own 81.90% of the company's stock.

Alaska Air Group Trading Up 0.7%

Shares of Alaska Air Group stock traded up $0.35 on Wednesday, reaching $50.56. 1,124,950 shares of the company's stock were exchanged, compared to its average volume of 2,888,905. The firm's 50-day moving average is $49.49 and its two-hundred day moving average is $57.58. The company has a market capitalization of $6.21 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 0.50 and a beta of 1.41. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.52 and a current ratio of 0.56. Alaska Air Group, Inc. has a 52 week low of $32.62 and a 52 week high of $78.08.

Alaska Air Group (NYSE:ALK - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The transportation company reported ($0.77) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.05). The company had revenue of $3.14 billion for the quarter, compared to analyst estimates of $3.19 billion. Alaska Air Group had a net margin of 2.86% and a return on equity of 15.01%. Alaska Air Group's revenue for the quarter was up 40.5% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.92) EPS. Sell-side analysts predict that Alaska Air Group, Inc. will post 6.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently weighed in on ALK shares. TD Cowen boosted their price objective on shares of Alaska Air Group from $54.00 to $62.00 and gave the stock a "buy" rating in a research note on Friday, April 25th. Barclays lowered their price target on shares of Alaska Air Group from $62.00 to $55.00 and set an "overweight" rating on the stock in a report on Friday, April 25th. Citigroup decreased their target price on Alaska Air Group from $83.00 to $81.00 and set a "buy" rating on the stock in a research report on Tuesday, March 18th. Susquehanna reduced their price target on Alaska Air Group from $95.00 to $55.00 and set a "positive" rating for the company in a research note on Monday, April 7th. Finally, Bank of America dropped their target price on Alaska Air Group from $80.00 to $70.00 and set a "buy" rating for the company in a report on Thursday, April 3rd. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Alaska Air Group currently has a consensus rating of "Moderate Buy" and an average target price of $66.83.

Insider Buying and Selling

In other Alaska Air Group news, VP Emily Halverson sold 2,946 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $51.34, for a total transaction of $151,247.64. Following the completion of the sale, the vice president directly owned 8,253 shares of the company's stock, valued at approximately $423,709.02. The trade was a 26.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andrew R. Harrison sold 7,500 shares of the business's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $53.51, for a total transaction of $401,325.00. Following the completion of the transaction, the executive vice president owned 26,530 shares in the company, valued at approximately $1,419,620.30. The trade was a 22.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,479 shares of company stock worth $554,228 over the last ninety days. 0.92% of the stock is owned by insiders.

Alaska Air Group Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.